PGA Tour-LIV ‘Showdown’ to offer historic prize fund (and there’s no cash)

Next month’s PGA Tour vs LIV Golf ‘Showdown’ is not quite what you expected.

That’s because when Rory McIlroy and Scottie Scheffler face off against Brooks Koepka and Bryson DeChambeau, there will be no cash involved.

Instead, it will be the first ever major golf event with a multimillion-dollar purse to be paid in CRO cryptocurrency.

Leading cryptocurrency exchange firm Crypto.com has secured the title sponsorship of the bout, which will now be named the ‘Crypto.com Showdown’.

Kris Marzalek, the company’s CEO, said its mission is to “accelerate the world’s transition to cryptocurrency” and the announcement is “our latest effort”.

He added: “This is testament to our confidence in the future of the US crypto market and the power of sports to bring fans to the most licensed crypto platform in the world – Crypto.com.”

Details of the prize fund are yet to be confirmed, although Josh Carpenter revealed organisers had been seeking $8-10 million for sponsorship.

Founded in 2016, Crypto.com aims to put cryptocurrency in everyone’s wallet, while becoming a globally recognised brand.

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It has already made waves in the sports world, teaming up with Formula 1, UFC and the UEFA Champions League, among others.

BZ Entertainment created the upcoming duel, led by Bryan Zuriff, and EverWonder Studio, led by Ian Orefice. It’s also been backed by Jeff Zucker’s RedBird IMI.

“The spirit of the Showdown has always been to unify and innovate the game by bringing together the best to deliver true stakes for the players and excitement for fans around the world,” said Zuriff and Orefice.

“With Crypto.com as our title sponsor and a multimillion-dollar prize purse in CRO cryptocurrency, this is a transformative moment for the game of golf and a potential blueprint for the future of professional sports.”

Steven Kalifowitz, Chief Marketing Officer at Crypto.com, said: “At Crypto.com, we look for firsts.

“The first crypto company to put our name on an iconic arena, The Crypto.comArena. The first to be a global sponsor for Formula 1, UFC, and the FIFA World Cup.

“Now, we will be the first to host a major golf tournament with the world’s top ranked players from LIV and the PGA Tour teeing off for a world’s first purse in CRO cryptocurrency.”

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Meanwhile, DeChambeau – who will compete in the contest on December 17 – backed the investment.

“The Showdown has been about innovation from the beginning and our commitment to delivering the best entertainment possible for the fans by uniting our sport,” he said.

“It is beyond exciting to have Crypto.com now on board to provide a true first with a crypto currency-based prize purse.”

The showdown will air at 6pm (ET) on TNT.

Carpenter has also reported that LIV broadcaster David Feherty will be in the broadcast booth and joined by Charles Barkley, Trevor Immelman, Bubba Watson and Ernie Johnson.

John Turnbull A graduate of the University of Stirling, John joined the bunkered team in 2023 as a Content Producer, with a responsibility for covering all breaking news, tour news, grassroots content and much more besides. A keen golfer, he plays the majority of his golf at Falkirk Golf Club. Top of his 'bucket list' is a round of Pebble Beach... ideally in the company of Gareth Bale.